"Driving the news: The president's order would direct federal agencies to pursue reclassifying marijuana as a Schedule III substance, grouping it with drugs considered to have less abuse potential like Tylenol with codeine and anabolic steroids. Currently, cannabis is listed as a Schedule I drug, meaning it has high abuse potential and no accepted medical use. Other Schedule I drugs include heroin, LSD and peyote."
"The Centers for Medicare and Medicaid's Innovation Centers models will allow millions of Americans on Medicare to become eligible to receive CBD, as early as April of next year, said Mehmet Oz, the CMS head. Medicare Advantage also agreed to consider CBD for the 34 million Americans it covers, Oz added. The intrigue: While some of the president's allies opposed easing restrictions, Trump said last year he would vote for a Florida amendment to legalize recreational marijuana. That initiative ultimately failed."
The president issued an order directing federal agencies to pursue reclassifying marijuana from Schedule I to Schedule III, aligning it with lower-risk controlled substances. Reclassification would acknowledge medical uses and reduce restrictions that prevent deductions under Internal Revenue Code Section 280E. CMS modeling would allow millions of Medicare beneficiaries to become eligible for CBD as early as April next year, and Medicare Advantage plans agreed to consider CBD for roughly 34 million enrollees. The order would not federally legalize recreational use, but would ease medical access and lower tax burdens for cannabis businesses. Some allies opposed easing restrictions, and state laws vary.
Read at Axios
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